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More evidence of ‘false promises’ of Durbin amendment

| St. Louis Business Journal

When U.S. Sen. Dick Durbin persuaded Congress to cap the fees retailers pay for debit card processing, he promised the retailers would pass the savings on to consumers.
Studies have shown they haven’t, and four years later, bankers and others say the Durbin amendment, passed as part of the Dodd-Frank financial reform law, is an abject failure.

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